TSWE.AS vs. XUSE.AS
TSWE.AS (VanEck Sustainable World Equal Weight UCITS ETF) and XUSE.AS (iShares MSCI World ex-USA UCITS ETF) are both Global Equities funds - TSWE.AS tracks the MSCI ACWI NR USD while XUSE.AS tracks the MSCI World ex USA Index. Both are passively managed. Over the past year, TSWE.AS returned 28.40% vs 25.66% for XUSE.AS. Their correlation of 0.84 suggests significant overlap in exposure. TSWE.AS charges 0.20%/yr vs 0.25%/yr for XUSE.AS.
Performance
TSWE.AS vs. XUSE.AS - Performance Comparison
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Different Trading Currencies
TSWE.AS is traded in EUR, while XUSE.AS is traded in USD. To make them comparable, the XUSE.AS values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, TSWE.AS achieves a 16.38% return, which is significantly higher than XUSE.AS's 12.92% return.
TSWE.AS
- 1D
- -0.19%
- 1M
- 1.14%
- 6M
- 13.12%
- YTD
- 16.38%
- 1Y
- 28.40%
- 3Y*
- 17.83%
- 5Y*
- 11.23%
- 10Y*
- 14.94%
XUSE.AS
- 1D
- 0.00%
- 1M
- 1.68%
- 6M
- 9.15%
- YTD
- 12.92%
- 1Y
- 25.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSWE.AS vs. XUSE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSWE.AS VanEck Sustainable World Equal Weight UCITS ETF | 16.38% | 7.36% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 12.92% | 11.69% |
Correlation
The correlation between TSWE.AS and XUSE.AS is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | 0.84 |
The correlation between TSWE.AS and XUSE.AS has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.
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Return for Risk
TSWE.AS vs. XUSE.AS — Risk / Return Rank
TSWE.AS
XUSE.AS
TSWE.AS vs. XUSE.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Sustainable World Equal Weight UCITS ETF (TSWE.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TSWE.AS | XUSE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.95 | +0.56 |
| Martin ratioReturn relative to average drawdown | 13.88 | 11.56 | +2.32 |
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Drawdowns
TSWE.AS vs. XUSE.AS - Drawdown Comparison
The maximum TSWE.AS drawdown since its inception was -75.58%, which is greater than XUSE.AS's maximum drawdown of -15.66%. Use the drawdown chart below to compare losses from any high point for TSWE.AS and XUSE.AS.
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Drawdown Indicators
| TSWE.AS | XUSE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.58% | -15.66% | -59.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.97% | -8.57% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -19.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.93% | — | — |
Current DrawdownCurrent decline from peak | -1.32% | -0.38% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -35.99% | -2.07% | -33.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.20% | -0.17% |
Volatility
TSWE.AS vs. XUSE.AS - Volatility Comparison
VanEck Sustainable World Equal Weight UCITS ETF (TSWE.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS) have volatilities of 3.86% and 3.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSWE.AS | XUSE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 3.80% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.62% | 11.78% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.20% | 13.80% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.74% | 15.24% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.97% | 15.24% | -0.27% |
TSWE.AS vs. XUSE.AS - Expense Ratio Comparison
TSWE.AS has a 0.20% expense ratio, which is lower than XUSE.AS's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TSWE.AS vs. XUSE.AS - Dividend Comparison
TSWE.AS's dividend yield for the trailing twelve months is around 1.78%, while XUSE.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSWE.AS VanEck Sustainable World Equal Weight UCITS ETF | 1.78% | 1.94% | 1.89% | 1.92% | 2.05% | 3.60% | 6.51% | 8.08% | 8.48% | 7.21% | 6.39% | 6.44% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSWE.AS and XUSE.AS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSWE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSWE.AS is cheaper with a 0.20% expense ratio, compared with 0.25% for XUSE.AS.
TSWE.AS tracks MSCI ACWI NR USD, while XUSE.AS tracks MSCI World ex USA Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for TSWE.AS and 0.25% for XUSE.AS.
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